# Yen loses ground to the Dollar despite US-Iran deal hopes

> USD/JPY touched 158.00 on November 2, its highest since October 29, even as the dollar fell against the euro and pound on US-Iran diplomacy. Crude oil fell on the talks, which would cut Japan's import bill, but the yen still weakened. The ISM manufacturing index rose to 55.5 from a 54.6 forecast, lifting the pair back toward 158.00.

- Date: 2026-11-02 · published 2026-11-03T00:09:40.480Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/76423-yen-loses-ground-to-the-dollar-despite-us-iran-deal-hopes
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude is normally supportive of yen-importing economies, but the stronger dollar means Japanese buyers still pay more for US-priced feed grains and meal. The pair's direction depends on upcoming US payrolls and BoJ communications.

## Read by commodity

- WTI: bearish ▼
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-11-07 | [Canadian dollar weakens despite wider trade surplus - The Globe and Mail](https://feedsoft.ai/events/33410-canadian-dollar-weakens-despite-wider-trade-surplus-the-globe-and-mail.md) | -3.2% | -11.3% |
| WTI | 2020-02-28 | [Baht gains more ground, as US dollar weakens](https://feedsoft.ai/events/54839-baht-gains-more-ground-as-us-dollar-weakens.md) | -2.6% | -61.0% |
| WTI | 2026-07-20 | [Why oil prices haven't gone crazy despite 5 months of US-Iran war \| Reuters](https://feedsoft.ai/events/9930-why-oil-prices-haven-t-gone-crazy-despite-5-months-of-us-iran-war-reuters.md) | +9.4% | +0.4% |
| WTI | 2020-02-03 | [Canadian dollar slides to two-month low as China virus hits oil demand - The Globe and Mail](https://feedsoft.ai/events/54810-canadian-dollar-slides-to-two-month-low-as-china-virus-hits-oil-demand-the.md) | -2.4% | -9.3% |
| WTI | 2026-07-30 | [Canadian dollar rises to six-week high as greenback slides - The Globe and Mail](https://feedsoft.ai/events/18588-canadian-dollar-rises-to-six-week-high-as-greenback-slides-the-globe-and-mail.md) | -10.1% | +2.3% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/yen-loses-ground-to-the-dollar-despite-us-iran-deal-hopes-202611022300

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.